Goldstone Financial Group’s recently announced retirement planning service has been developed specifically to cater to the needs of older generations who are either approaching retirement or who are recently retired. With a primary focus on optimizing and building 401(k) plans, this specialized service has been created to assist individuals who are approaching retirement age and know they will stop contributing to their 401(k) shortly, or who have recently stopped working and have now become reliant on their 401(k) savings and other investments.
More information is available at https://goldstonefinancialgroup.com/
With their newly available 401(k) focused financial advisory service, the experienced retirement planners at Goldstone Financial Group will first evaluate a retiree’s overall retirement plan, including their current 401(k) balance and structure. Then, together with the client, they will seek to optimize their 401(k), by utilizing different investment choices and tools like rolling over funds.
Given that 401(k)s were only introduced in America in 1978 and took many years to become the dominant form of retirement savings, many individuals who are approaching retirement age today have not been able to effectively accrue savings and tax benefits through a 401(k) throughout their lifetime. As one senior financial advisor at Goldstone, Phillip Shaw, CFP(R), explained, older generations who are now closer to retirement have also experienced significant shifts in employment trends, economic fluctuations, and changes in retirement policies that have undoubtedly shaped their financial outcomes in ways beyond their control.
Shaw added that these factors, combined with longer life expectancies, make it imperative for older individuals to seek professional guidance in order to ensure that their 401(k) plans continue to grow, even when funds are no longer being actively paid into them from current employment.
Goldstone Financial Group has also developed its service in response to ongoing changes that have been made to the structures of 401(k)s. Phillip Shaw, CFP(R), believes these amendments can be confusing and overwhelming to individuals without financial experience, especially to older individuals who were often first put into 401(k) programs in an unclear and non-transparent way.
Goldstone also believes that older generations – both those close to retirement and newly retired – need their own dedicated 401(k) financial advisory service because they have less time to recover from any financial setback. Thus, Goldstone offers its retirement planning support to strike the right balance between risk and growth, and to safeguard their client’s assets while also ensuring sufficient returns to sustain their retirement lifestyle.
Anthony Pellegrino, the CEO and Founder of Goldstone Financial Group said of their retirement planning service, “Personal savings, such as 401(k) plans, are a particularly important source of income in retirement. It’s important to create a plan to withdraw your savings in a tax-efficient manner and ensure that your savings last throughout your retirement. Goldstone Financial Group can help you develop that plan, one that maximizes your income sources, minimizes taxes, and provides for your essential expenses.”
Interested readers can find out more at https://goldstonefinancialgroup.com/contact-us/
Goldstone Financial Group
18W140 Butterfield Road
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.